Registration number: 10962447

Dugan's Patisserie Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Dugan's Patisserie Ltd

Company Information

Directors

Miss T Dugan Mr B Maassen

Registered office

Trigfan Cusop Hay-on-Wye Hereford HR3 5RF

Bankers

NatWest Bank plc 27 High Street Brecon Powys LD3 7LF

Accountants

W J James & Co Chartered AccountantsBishop House 10 Wheat Street Brecon Powys LD3 7DG

Dugan's Patisserie Ltd

(Registration number: 10962447)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	48,305	49,261
Current assets
Stocks		3,615	3,598
Debtors	5	7,038	4,763
Cash at bank and in hand		17,568	4,356
		28,221	12,717
Creditors: Amounts falling due within one year	6	(27,133)	(23,387)
Net current assets/(liabilities)		1,088	(10,670)
Total assets less current liabilities		49,393	38,591
Creditors: Amounts falling due after more than one year	6	(24,589)	(30,122)
Provisions for liabilities		(2,844)	(2,716)
Net assets		21,960	5,753
Capital and reserves
Called up share capital		10	10
Retained earnings		21,950	5,743
Shareholders' funds		21,960	5,753

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 October 2025 and signed on its behalf by:
 

Dugan's Patisserie Ltd

(Registration number: 10962447)
Balance Sheet as at 31 March 2025

......................................... Miss T Dugan Director

......................................... Mr B Maassen Director

Dugan's Patisserie Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Trigfan
Cusop
Hay-on-Wye
Hereford
HR3 5RF

The principal place of business is:
Carlton House
Hay on Wye
Powys
HR3 5BU

These financial statements were authorised for issue by the Board on 17 October 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling, which is the functional currency of the company, and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis. The company has net liabilities at the balance sheet date and is reliant on the financial support of the directors. The directors have reduced their overheads which has improved profitability.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Dugan's Patisserie Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxale profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Long leasehold improvements	5% reducing balance
Furniture, fittings and equipment	20% reducing balance
Office equipment	25% reducing balance
Motor vehicles	25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Dugan's Patisserie Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Dugan's Patisserie Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4	Tangible assets

	Long leasehold improvements £	Furniture, fittings and equipment £	Office equipment £	Motor vehicles  £
Cost or valuation
At 1 April 2024	50,774	21,179	1,015	2,900
Additions	-	3,560	-	-
At 31 March 2025	50,774	24,739	1,015	2,900
Depreciation
At 1 April 2024	9,932	14,309	613	1,753
Charge for the year	2,043	2,086	101	286
At 31 March 2025	11,975	16,395	714	2,039
Carrying amount
At 31 March 2025	38,799	8,344	301	861
At 31 March 2024	40,842	6,870	402	1,147

Dugan's Patisserie Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

	Total £
Cost or valuation
At 1 April 2024	75,868
Additions	3,560
At 31 March 2025	79,428
Depreciation
At 1 April 2024	26,607
Charge for the year	4,516
At 31 March 2025	31,123
Carrying amount
At 31 March 2025	48,305
At 31 March 2024	49,261

Dugan's Patisserie Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5

Debtors

Current	2025 £	2024 £
Trade debtors	3,979	4,229
Prepayments	1,621	348
Other debtors	1,438	186
	7,038	4,763

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	7	5,401	5,269
Trade creditors		5,503	2,714
Taxation and social security		7,680	4,877
Accruals and deferred income		3,019	1,870
Other creditors		5,530	8,657
		27,133	23,387

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	7	24,589	30,122

Creditors include bank loans repayable by instalments of £2,986 (2024 - £9,045) due after more than five years.

Dugan's Patisserie Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	24,589	30,122

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	5,401	5,269

Bank borrowings

NatWest bounce back loan is denominated in £ with a nominal interest rate of 2.5%, and the final instalment is due on 11 May 2030. The carrying amount at year end is £29,990 (2024 - £35,391).